Leerink Swann Comments on Edge Therapeutics, Inc.’s FY2017 Earnings (EDGE)
Edge Therapeutics, Inc. (NASDAQ:EDGE) – Stock analysts at Leerink Swann reduced their FY2017 earnings per share (EPS) estimates for shares of Edge Therapeutics in a research report issued on Wednesday. Leerink Swann analyst P. Matteis now expects that the biotechnology company will earn ($1.90) per share for the year, down from their prior forecast of ($1.89).
A number of other research firms have also recently weighed in on EDGE. Zacks Investment Research raised Edge Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. BidaskClub cut Edge Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, August 14th.
WARNING: This piece of content was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/09/08/leerink-swann-comments-on-edge-therapeutics-inc-s-fy2017-earnings-edge.html.
Edge Therapeutics (EDGE) opened at 10.73 on Friday. The firm’s market cap is $331.03 million. Edge Therapeutics has a 52-week low of $7.30 and a 52-week high of $13.50. The firm’s 50-day moving average price is $10.60 and its 200 day moving average price is $9.89.
Edge Therapeutics (NASDAQ:EDGE) last posted its quarterly earnings data on Tuesday, August 1st. The biotechnology company reported ($0.44) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.44).
Several institutional investors and hedge funds have recently added to or reduced their stakes in EDGE. Teachers Advisors LLC raised its holdings in shares of Edge Therapeutics by 8.2% during the fourth quarter. Teachers Advisors LLC now owns 28,353 shares of the biotechnology company’s stock valued at $354,000 after buying an additional 2,150 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Edge Therapeutics by 1.7% during the first quarter. Wells Fargo & Company MN now owns 11,942 shares of the biotechnology company’s stock valued at $109,000 after buying an additional 200 shares during the last quarter. TFS Capital LLC bought a new stake in shares of Edge Therapeutics during the first quarter valued at approximately $209,000. Eagle Asset Management Inc. raised its holdings in shares of Edge Therapeutics by 4.4% during the first quarter. Eagle Asset Management Inc. now owns 899,968 shares of the biotechnology company’s stock valued at $8,198,000 after buying an additional 37,536 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Edge Therapeutics during the first quarter valued at approximately $143,000. 49.38% of the stock is currently owned by institutional investors.
In other news, insider Brian A. Leuthner sold 7,500 shares of Edge Therapeutics stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $10.53, for a total transaction of $78,975.00. Following the sale, the insider now owns 125,236 shares of the company’s stock, valued at $1,318,735.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian A. Leuthner sold 2,500 shares of Edge Therapeutics stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $10.37, for a total value of $25,925.00. Following the sale, the chief executive officer now directly owns 117,736 shares in the company, valued at approximately $1,220,922.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,000 shares of company stock worth $319,190. Corporate insiders own 36.19% of the company’s stock.
About Edge Therapeutics
Edge Therapeutics, Inc is a clinical-stage biotechnology company that discovers, develops and seeks to commercialize hospital-based therapies capable of transforming treatment paradigms in the management of acute, life-threatening critical care conditions. The Company’s initial product candidates target rare, acute, life-threatening neurological and other conditions.
Receive News & Ratings for Edge Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edge Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.